Hey all,
Straight to the point, I am seeking additional guidance and critique of my execution strategy to turn a crude prototype into a licensing contract by (hopefully) a major corporation. I am setting the bar high and would like to earn a contract with one of the top dogs. If anyone could share any experiences or commentary on that matter, it would be appreciated. Before getting too far ahead of myself, let me share some information.
The prototype, again is, crude. For your mind, imagine a packaging unit for a worldwide product. I've recently reached the point I simply cannot make it any cheaper or refined, and additionally, can't test it.
Considering this, I have decided I will go speak with the New Product Development Lab at Boise State where I attend classes. I have used them in the past for a CAD I needed refined and printed. Keep in mind that at BSU's development lab, some of the design engineers are students, discounting the price for services. Their state of the art technology and over half-priced rates, will assist me in developing my prototype.
For the further development of my prototype, I intent to speak with the design engineer (student or otherwise) about:
Still with me?
If so, thank you, because this is where I need more guidance than critique.
I go back to the Thread's title for this, "Prototype to Licensing Contract", and ask: at what point can I take my prototype and give an excellent business presentation to a major corporation for the highest chance of success.
I know that I am going to need to speak with a patent lawyer and I have some good history with one of the top business law firms here in Boise. I have done a (not so extensive) search of patents with my knowledge of their searching engine and didn't see anything that struck me as potential infringement. Regardless, I will be speaking with one of their lawyers.
So, hopefully by this point (I know it may take time), I will have a provisional patent and working/tested prototype (best case ontario). IS THIS finally the time to go present to a company?
...Or...
Is it possible to save resources by not spending time (or very little) on product packing and distribution testing (**touching on this from earlier). I say while still getting a provisional patent. THEN present to a company in the hopes their R&D team will handle the logistics I bypassed.
Is this lazy? Sure, but if it's still possible to cut a deal this, I'd say it could be a smart alternative keeping in mind financials.
A few things I would still like to touch on for those willing to assist.
I am at the mercy of the web now, but would like to preemptively thank you all. I look forward to your questions and criticisms.
BAMCIS
Straight to the point, I am seeking additional guidance and critique of my execution strategy to turn a crude prototype into a licensing contract by (hopefully) a major corporation. I am setting the bar high and would like to earn a contract with one of the top dogs. If anyone could share any experiences or commentary on that matter, it would be appreciated. Before getting too far ahead of myself, let me share some information.
The prototype, again is, crude. For your mind, imagine a packaging unit for a worldwide product. I've recently reached the point I simply cannot make it any cheaper or refined, and additionally, can't test it.
Considering this, I have decided I will go speak with the New Product Development Lab at Boise State where I attend classes. I have used them in the past for a CAD I needed refined and printed. Keep in mind that at BSU's development lab, some of the design engineers are students, discounting the price for services. Their state of the art technology and over half-priced rates, will assist me in developing my prototype.
For the further development of my prototype, I intent to speak with the design engineer (student or otherwise) about:
- Design flaw, including functionality and manufacturability (this seems important to me when trying to get the attention of major corporations)
- Local (or known) manufactures for package and distribution testing (**I would like to touch on this again later)
- CAD, refinement, and animation of use
Still with me?
If so, thank you, because this is where I need more guidance than critique.
I go back to the Thread's title for this, "Prototype to Licensing Contract", and ask: at what point can I take my prototype and give an excellent business presentation to a major corporation for the highest chance of success.
I know that I am going to need to speak with a patent lawyer and I have some good history with one of the top business law firms here in Boise. I have done a (not so extensive) search of patents with my knowledge of their searching engine and didn't see anything that struck me as potential infringement. Regardless, I will be speaking with one of their lawyers.
So, hopefully by this point (I know it may take time), I will have a provisional patent and working/tested prototype (best case ontario). IS THIS finally the time to go present to a company?
...Or...
Is it possible to save resources by not spending time (or very little) on product packing and distribution testing (**touching on this from earlier). I say while still getting a provisional patent. THEN present to a company in the hopes their R&D team will handle the logistics I bypassed.
Is this lazy? Sure, but if it's still possible to cut a deal this, I'd say it could be a smart alternative keeping in mind financials.
A few things I would still like to touch on for those willing to assist.
- Am I wrong in my order of development by testing before the provisional patent? If so, would this be the ACTUAL order? Prototype -> provisional patent -> testing/revisions -> file patent -> patent pending -> sell, sell, sell -> patent approved
- My concept is (in my mind) competitive as it offers something fun and functional. Functional meaning it solves a problem. If (when) I get to the table with the big wigs, I feel this is a good bargaining chip for me. However, if they do not like my concept, is it still possible to sell at a high price to keep it away from their competitors? (Yes, yes, yes...a bit premature)
- Again, please consider the real question here over all of my strategy. "What is the fastest way to get my crude prototype either sold or licensed with a snack company?". Then examine my strategy and poke holes.
- Any advice on how I can go about getting meetings with the big corporations? Speak with their R&D? Or perhaps try and contact part of their Marketing department?
I am at the mercy of the web now, but would like to preemptively thank you all. I look forward to your questions and criticisms.
BAMCIS
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